AA - Alcoa Corporation

NYSE - NYSE Delayed Price. Currency in USD
21.54
+1.24 (+6.11%)
At close: 4:03PM EDT
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Previous Close20.30
Open20.66
Bid21.52 x 1200
Ask21.60 x 900
Day's Range20.34 - 21.64
52 Week Range16.46 - 39.76
Volume6,001,514
Avg. Volume3,789,481
Market Cap3.997B
Beta (3Y Monthly)1.65
PE Ratio (TTM)N/A
EPS (TTM)-3.12
Earnings DateJan 14, 2020 - Jan 20, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est24.83
Trade prices are not sourced from all markets
  • Alcoa (AA) Catches Eye: Stock Jumps 6%
    Zacks

    Alcoa (AA) Catches Eye: Stock Jumps 6%

    Alcoa (AA) saw a big move last session, as its shares jumped nearly 6% on the day, amid huge volumes.

  • How a small aluminum maker won U.S. trade protection
    Reuters

    How a small aluminum maker won U.S. trade protection

    When Donald Trump won the White House, the sprawling aluminum smelter that hugs the Ohio River here was operating at less than half its capacity, and most of its skeleton crew of 270 remaining workers were fearful about their future. How a tiny industry - only 4,000 U.S. workers are directly involved in making primary aluminum currently - won protection is a testament to savvy lobbying, and one firm’s ability to get the Trump administration to view it as a sector that would soon be gone without a government intervention. Century Aluminum Co , which operates the Hawesville smelter and ranks as the second-largest aluminum maker in the United States, spearheaded the fight.

  • Focus: How a small aluminum maker won U.S. trade protection
    Reuters

    Focus: How a small aluminum maker won U.S. trade protection

    When Donald Trump won the White House, the sprawling aluminum smelter that hugs the Ohio River here was operating at less than half its capacity, and most of its skeleton crew of 270 remaining workers were fearful about their future. How a tiny industry - only 4,000 U.S. workers are directly involved in making primary aluminum currently - won protection is a testament to savvy lobbying, and one firm’s ability to get the Trump administration to view it as a sector that would soon be gone without a government intervention. Century Aluminum Co, which operates the Hawesville smelter and ranks as the second-largest aluminum maker in the United States, spearheaded the fight.

  • Thomson Reuters StreetEvents

    Edited Transcript of AA.N earnings conference call or presentation 16-Oct-19 9:00pm GMT

    Q3 2019 Alcoa Corp Earnings Call

  • GuruFocus.com

    US Markets Advance Thursday

    Alcoa jumps on financial results Continue reading...

  • Slowdown fears, trade wars hit sales at major industrial companies
    MarketWatch

    Slowdown fears, trade wars hit sales at major industrial companies

    Third-quarter sales at some of the biggest manufacturing and industrial companies are coming up short.

  • Barrons.com

    Alcoa Gave the Stock Market Bad News. Its Stock Is Surging.

    The aluminum company sees a grim outlook for industrial demand and reported a smaller profit than expected.

  • Alcoa Heads for Biggest Gain Since 2016 on $1 Billion Revamp
    Bloomberg

    Alcoa Heads for Biggest Gain Since 2016 on $1 Billion Revamp

    (Bloomberg) -- Alcoa Corp. shares headed for the biggest gain since early 2016 as investors welcomed the company’s plans to get leaner by selling assets to weather a market rout.The largest U.S. aluminum maker outlined its restructuring plans in an earnings statement Wednesday in which it predicted that world demand may contract by as much as 0.6% this year, reversing a July outlook for growth of at least 1.25%. The asset sales follow the company’s worst streak of quarterly losses in at least three years.The forecast came a day after the International Monetary Fund cut its 2019 global growth forecast, citing a broad deceleration across the largest economies. Metal producers have been caught in the crossfire as a trade war between the U.S. and China hurt global growth, curbing demand for industrial raw materials.“A leaner and lower-cost Alcoa should be well positioned for the eventual cyclical recovery in global demand for metals, and longer term investors may consider buying these shares at current levels,” Jeffries LLC analysts Christopher LaFemina and Patricia Hove said in a note.Alcoa shares climbed 12% to $21.49 at 9:55 a.m. in New York. A close at that level would mark the biggest since February 2016. The rally trimmed this year’s decline to 19%.The average price for alumina, a key aluminum ingredient and one sold by Alcoa, dropped 44% in the third quarter from the same period a year earlier, according to S&P Global Platts. Chief Executive Officer Roy Harvey expressed optimism that the downturn in the market won’t last.“When we think about 2020, we see demand springing back,” Harvey said in a telephone interview. “This isn’t a problem with the consumption of aluminum, this is a hiccup with what’s happening in the global economy.”Over the next 12 to 18 months, Alcoa intends to pursue non-core asset sales expected to generate an estimated $500 million to $1 billion in net proceeds.The company also plans to realign its operating portfolio, and has placed under review 1.5 million metric tons of smelting capacity and 4 million metric tons of alumina refining capacity over the next five years. The review will consider opportunities for significant improvement, potential curtailments, closures or divestitures.“It’s also simply a way that we can make sure we have the right cash to help weather through the different parts of the market cycle,” Harvey said Wednesday. “That is for us an important component of making sure we have the cash to be able to move through our restructuring process.”Alcoa said it’s implementing changes to make it leaner. The restructuring costs will be paid in cash in the fourth quarter 2019 with the remainder in the first quarter 2020, the company said. The new operating model is expected to generate annual savings of about $60 million in operating costs beginning in the second quarter of 2020.The company reported a third-quarter loss of 44 cents a share, worse than analysts expected. Industrial metals have fallen as the U.S.-China trade war weighs on global manufacturing and economic growth.Goldman Sachs Group Inc. lowered its price forecasts on aluminum earlier this month, citing strong supply growth outside of China and the negative impact of economic uncertainty on capital spending. Harvey said the downturn may not last.“When we think about 2020, we see demand springing back,” Harvey said. “This isn’t a problem with the consumption of aluminum, this is a hiccup with what’s happening in the global economy that we believe will come roaring back once this uncertainty is behind us.”(Updates with shares, analysts’ comments in fifth and seventh paragraphs.)To contact the reporter on this story: Joe Deaux in New York at jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Alcoa announces restructuring charges, portfolio review in Q3 results
    American City Business Journals

    Alcoa announces restructuring charges, portfolio review in Q3 results

    Alcoa Corp.’s (NYSE:AA) new operating model, set to begin on November 1, will cost the company $37 million in restructuring charges, mainly due to severance costs. During the quarter three earnings call Wednesday evening, Alcoa CEO Roy Harvey said the majority of those costs will be paid in cash during the fourth quarter of 2019 and completely paid in the first quarter of 2020. The company reported a net loss of $221 million, or $1.19 per share, for the quarter, along with $2.6 billion in revenue.  During the earnings call, Harvey also announced a multi-year portfolio review aimed at driving lower costs for Alcoa.

  • Alcoa rings an alarm for global manufacturing
    MarketWatch

    Alcoa rings an alarm for global manufacturing

    Alcoa Corp. stock rallied Wednesday after the industrial giant took action to shore up profits, but the quarterly update also predicted lower aluminum demand thanks ‘weakening macroeconomic conditions, trade tensions between the U.S. and China, and contracting manufacturing activity, especially in the global automotive sector.”

  • TheStreet.com

    IBM, Netflix, Morgan Stanley, Honeywell, Brexit - 5 Things You Must Know

    U.S. stock futures rise after a Brexit deal is reached; Netflix boosts international subscriber growth but sees U.S. weakness; IBM posts a third-quarter revenue miss; Honeywell and Morgan Stanley report earnings.

  • Dow Jones Futures: Netflix, IBM Lead Big Earnings Movers As Stock Market Rally Holds Strong
    Investor's Business Daily

    Dow Jones Futures: Netflix, IBM Lead Big Earnings Movers As Stock Market Rally Holds Strong

    Stock futures: Netflix soared late on earnings despite missing on subscriber growth again. IBM, Alcoa and CSX were big earnings movers too.

  • Alcoa (AA) Reports Q3 Loss, Tops Revenue Estimates
    Zacks

    Alcoa (AA) Reports Q3 Loss, Tops Revenue Estimates

    Alcoa (AA) delivered earnings and revenue surprises of -25.71% and 0.89%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • MarketWatch

    Alcoa posts another quarterly loss, announces capacity 'review', asset sales

    Alcoa Corp. late Wednesday posted a wider-than-expected adjusted quarterly loss and announced a "review" of its smelting and refining capacity as well as asset sales to boost profits and lower costs. Alcoa said it lost $221 million, or $1.19 a share, in the third quarter, compared with a loss of $6 million, or 3 cents a share, in the year-ago quarter. Adjusted for one-time items, Alcoa posted a loss of $82 million, or 44 cents a share, versus earnings of $154 million, or 82 cents a share, a year ago. Revenue fell to $2.6 billion from $3.4 billion in the third quarter of 2018. Analysts polled by FactSet had expected an adjusted loss of 42 cents a share on sales of $2.6 billion. Alcoa said its "multiyear portfolio review" aims to refine its "strategic priorities" with an eye toward driving costs lower and achieving "sustainable profitability." Most of the restructuring costs will be paid in the fourth quarter, with the remainder in the first quarter, and its new operating model is expected to result in about $60 million in annual savings starting in the second quarter. The asset sales are expected to generate $500 million to $1 billion in net proceeds, Alcoa said. The company kept its prediction of a deficit in the global aluminum market, and estimated lower global demand for aluminum for the year, versus a previous estimate of demand growth. "The change is driven by weakening macroeconomic conditions, trade tensions between the U.S. and China, and contracting manufacturing activity, especially in the global automotive sector," Alcoa said. For the alumina market, Alcoa projected a global surplus for 2019 that was slightly higher than the previous quarter's predictions. Shares of Alcoa rose 4% in the extended session after ending the regular trading day down 1.5%.

  • Business Wire

    Alcoa Corporation Reports Third Quarter 2019 Results

    To drive lower costs and sustainable profitability, Company announces review of smelting, refining capacity and potential asset sales

  • ACCESSWIRE

    Alcoa Corp. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / October 16, 2019 / Alcoa Corp. (NYSE: AA ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on October 16, 2019 at 5:00 PM Eastern Time. ...

  • TheStreet.com

    [video]Alcoa Shares Higher as Aluminum Producer Plans Extensive Portfolio Review

    The Pittsburgh company posted a wider third-quarter loss. But it's planning moves to sell non-core assets and realign its operating portfolio.

  • Alcoa Stock Flashes Technical Trouble Ahead of Earnings
    Schaeffer's Investment Research

    Alcoa Stock Flashes Technical Trouble Ahead of Earnings

    The options pits have been red-hot ahead of tonight's quarterly report

  • Alcoa’s Q3 Results: What to Expect Tomorrow
    Market Realist

    Alcoa’s Q3 Results: What to Expect Tomorrow

    Alcoa's Q3 results are set to be released tomorrow after markets close. Aluminum prices have been weak this year, and the stock is down almost 28%.

  • Reuters

    UPDATE 1-At least two dead in Guinea protests against change to constitution

    At least one policeman and a protester were killed on Monday during demonstrations in Guinea against a possible change to the constitution that could let President Alpha Conde seek a third term, officials and residents said. Police opened fire on demonstrators as they ransacked military posts and blocked roads with burning tyres in the capital Conakry and protests in the northern opposition stronghold of Mamou also turned violent, witnesses said. Conde's second and final five-year term expires in 2020 but the 81-year-old leader has refused to rule out running again.

  • Analysts Estimate Alcoa (AA) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate Alcoa (AA) to Report a Decline in Earnings: What to Look Out for

    Alcoa (AA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Simple Market Timing Strategies That Work - October 08, 2019
    Zacks

    Simple Market Timing Strategies That Work - October 08, 2019

    In the long-run, does consistent market timing really matter to be a successful investor?

  • MarketWatch

    Alcoa books $37 million restructuring charge for Q3

    Alcoa Corp. said late Monday it has recorded a $37 million restructuring charge, or an adjusted 14 cents a share. Most of the costs will be paid in cash in the fourth quarter, with the remainder paid in the first quarter of 2020, the company said. The charge is related to expenses with previously announced layoffs and severances. Alcoa said it expects to save about $60 million a year with its restructuring, starting around the second quarter of 2020 "after implementation of the new operating model and the restructuring is substantially complete," it said. Shares of Alcoa rose 2.4% in the extended session Monday after ending the regular trading day down 1%.

  • Alcoa and Arconic Sue Berkshire-Owned Railroad
    Market Realist

    Alcoa and Arconic Sue Berkshire-Owned Railroad

    Alcoa, Arconic, and NOVA Chemicals have filed a lawsuit against several US railroad companies. One defendant is BNSF Railway, owned by Berkshire Hathaway.

  • Pittsburgh companies sue railroad giants for price fixing
    American City Business Journals

    Pittsburgh companies sue railroad giants for price fixing

    The companies, which rely on rail freight services to transport their products, claim the four largest Class I railroad companies in the U.S. "embarked on a conspiracy."